Dietary Supplement Market 2019-2028
New Study Reports “Dietary Supplement 2019 Global Market Opportunities, Challenges, Strategies and Forecasts 2028”.
Introduction / Market Overview:
Dietary supplements are gaining high traction among people, as these products are enriched with high nutritional values and have a broad range of health-related benefits. Growing health concerns along with changing lifestyle patterns and dietary habits have increased the product demand. Furthermore, a positive outlook on sports & fitness nutrition is the primary factor responsible for market growth. The rise in the number of global sports events, such as Big Bash and Indian Premier League has encouraged athletes to focus on their physical strength by consuming nutrient-rich food and dietary supplements. In addition to this, the surge in the number of sports complex, fitness centres, and profession gym is anticipated to drive market growth.
Rapid urbanization, increase in disposable income, along with growing consumer awareness regarding the benefits of dietary supplements is expected to stimulate market growth during the forecast period 2019-2025, the global dietary supplement market survey report suggests. Rising consumer inclination towards protein and other dietary supplements, on account of the increased prevalence of chronic and cardiovascular diseases, along with weight management programs, is anticipated to increase the demand for high-quality and nutrient-enriched dietary supplements. Dietary supplements not only help in reducing body weight, but these products also offer the desired strength to the body, thereby eliminating the chances of bone-related diseases.
Women must take protein shakes, it will help them to stay strong and active all day long. The medical-dietary supplements have added health and wellness benefits, which further motivate the consumers to include them in their daily diet. Some other factors, such as the growing geriatric population, growing work-life stress, changing lifestyle and dietary patterns, and increased cost of healthcare is expected to drive the demand for good-quality dietary supplements. Further, growing per capita spending on personal care & fitness and modernization may also stimulate the product demand. Rising demand for natural/organic dietary supplements across the globe has compelled regulatory authorities to frame supportive strategies to increase the production of organic foods.
Important Key Players Analysis: Pfizer, Amway, Suntory, Glanbia, GSK, Abbott, Herbalife, Reckitt Benckiser, Bayer, Blackmores, Otsuka, GNC, Sanofi, Merck, Nature’s Bounty, Miki and more.
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The global dietary supplement market can be analyzed on the basis of product types, major application areas, regional markets, and market players. Based on the product types, the dietary supplements market can be segmented into vitamins, minerals, botanicals, enzymes, fatty acids, and proteins. Proteins and vitamins are crucial ingredients for the production of dietary supplements. Protein is a fundamental requirement for sports athletes and working professionals. The protein-enriched dietary supplements are normally available in the form of powders, multivitamin tablets, and liquids. Surging demand for organic supplements for the prevention of neurological as well as physical disorders is foreseen to increase the demand for botanical supplements. Dietary supplements can be consumed by adults, infants, children, pregnant women, and elderly people.
North America, Europe, Asia Pacific, and Southeast Asia are the major regions driving the dietary supplements market. Surging demand for sports & fitness nutrition, on account of the rising significance of active lifestyle along with rising awareness regarding the benefits of dietary supplements, is expected to drive the product demand in North America. Furthermore, rising requirements of health supplements for managing the body weight and maintaining desired nutrition levels among adults and elders, in the U.S. and Canada is expected to surge demand. Rising awareness regarding the consumption of nutrient-enriched food and a growing number of fitness centres and gyms are expected to drive the product demand in the Asia Pacific.
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Market players operating in the dietary supplement industry are focusing on strategic divestments, acquisition, mergers, and product launches, in order to expand their consumer base. R&D and modern product launch are the two primary factors that can fuel the dietary supplement market growth. Glanbia acquired Netherlands-based Body & Fit. This acquisition was aimed at ensuring direct existence in the moderately prospering direct-to-customer channel in the year 2017.
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